Step #1 How to Identify the ORB Nr4
The ORB pattern is defined as a trade taken at a fixed value of the opening range.
The Opening range Breakout trade is more effective if taken after an inside day that has its daily range smaller than the previous 3 days, which is where the Nr4 stands for. You have three candles followed by another candle with a daily range...
1- 0.8200 and 0.830 support/resistance round levels rejection
2- Objective Trendline IN BLUE
3- one histogram divergence on MACD in blue
Waiting for a momentum candle close below our last swing standing to sell
We expect this pair to fall because of the BEARISH FLAG,
there will be 2 things that we expect when we reach 0.7470
1. Rejection that will form double bottom with target 0.7860
2. Breakout that will satisfy the bearish flag continuation with target 0.7235
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Welcome! I've been learning/practing technical analysis for awhile now and have recently learned a lot about price action. I plan to publish my thoughts at least once a week. My goal is to practice, improve, learn and hopefully share some knowledge with the community. Please feel free to challenge and question me (respectfully). This is also not financial advice...
ETHEREUM/DOLLAR is in a range bound and Resumption of up trend is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 37.
While the price is above the support 553.100, resumption of uptrend is expected.
We make sure when the...
The first question i always ask myself is "who is in control of price?" that way i can analyze my trrading from a price action point of view.
So, who is in control of price on this one? First we have a bearish trend followed by a tiny pull back and then an indecision candle which tells us that the bearish power might transitioning to the bulls. Of course i might...
Same play as i posted before on the 4hr chart but this time on a smaller timeframe. (attached in the related links)
Same rationale as well as there is clear selling pressure building from the triangle/wedge pattern from the last few days.
Expected price target for this play is 130.90
AFTER A BREAK OF THE TRIANGLE/DOWNTREND, GBP/JPY APPEARS TO BE BULLISH AND OFFERS UP A DECENT RISK TO REWARD TRADE.
ON THE 4H CHART THE 150/16 DAY MA'S HAVE TURNED AWAY FROM EACH OTHER FOR THE TIME BEING, INDICATING A POTENTIAL CONTINUATION OF THE LONG TERM UPTREND.
TARGETS CAN BE SET AT 193.90's, A BREAK OF THIS LEVEL COULD LEAD TO AN EXTENSION OF 194.35, THEN...